wildpikey Posted December 1, 2017 Share Posted December 1, 2017 I have recently become aware of the fact that different countries are signing agreements to share tax information. My Isle of man bank account has asked me where I am tax resident.? Well, I am a UK citizen, but rarely there so not required to pay tax. Work overseas in a place where I do not get tax taken, and I spend most of my free time in Thailand. I have always been of the opinion that I do not pay tax, although I have been informed that you "must pay tax somewhere". So I am legally not taxed from the UK, the country that I work in has no tax system in place it would seem but I have recently been looking into whether I am required to pay tax in Thailand, just because I spend my time there. I came across some information stating that: Anyone "resident or non resident" if they spend more than 180 days a year in Thailand are required to pay tax whether the money they earn was derived Thailand or from overseas. However the overseas money was only taxable if it was remitted to Thailand in the same year. Firstly, how could they know if they money you earn was remitted in the same year as it was earned? unless you set up different bank accounts and move the money between them. Does anyone have any answers for me? there must be lots of people in a similar situation?? I would like to hear of anyone's suggestions or experiences.. Link to comment Share on other sites More sharing options...
Jip99 Posted December 1, 2017 Share Posted December 1, 2017 I suspect that, like most Tax regimes, the onus will be on YOU to show/prove that money transferred was not from the current tax year.....their start point might automatically be to assume it was. That is if you ever find your way into the Thai tax system. Link to comment Share on other sites More sharing options...
KiChakayan Posted December 1, 2017 Share Posted December 1, 2017 Well so far quite easy. I keep a one year buffer or more in my Swiss bank account. My pension being paid into this account. But currently this is probably an overkill, the Thai tax office seems to be happy not to tax foreigners not working in Thailand. Link to comment Share on other sites More sharing options...
BEVUP Posted December 1, 2017 Share Posted December 1, 2017 Similar to a person I know Why worry about it They probably only want it due to the fact that if you don't give them one they will tax you at the full rate on the interest Your only visiting Thailand & is that 180 days continuos or all up Link to comment Share on other sites More sharing options...
wildpikey Posted December 1, 2017 Author Share Posted December 1, 2017 Yes apparently more than 180 days total you are considered resident whether you have the correct visa or not. Even though we have to jump through hoops to get visas, can't own houses and all the ridiculous checking in to immigration to prove where you are rules, ... Then they try to tax you on your overseas earnings? hmmm.. I wouldn't mind if there was some benefit to it, but all my research has found no positives... Link to comment Share on other sites More sharing options...
ExpatDraco Posted December 1, 2017 Share Posted December 1, 2017 What if you say Thailand? Do you need to prove you are paying taxes in Thailand? Sent from my SM-G955F using Tapatalk Link to comment Share on other sites More sharing options...
ExpatDraco Posted December 8, 2017 Share Posted December 8, 2017 What if you say Thailand? Do you need to prove you are paying taxes in Thailand? Sent from my SM-G955F using TapatalkGuess I don't get an answer... :) Sent from my SM-G955F using Tapatalk Link to comment Share on other sites More sharing options...
topt Posted December 9, 2017 Share Posted December 9, 2017 (edited) On 01/12/2017 at 10:13 PM, ExpatDraco said: What if you say Thailand? Do you need to prove you are paying taxes in Thailand? Sent from my SM-G955F using Tapatalk 18 hours ago, ExpatDraco said: Guess I don't get an answer... :) Sent from my SM-G955F using Tapatalk Depends on what answer your specific institution will accept. There have been a number of threads on this - do a search on CRS (Common Reporting Standards) in the Home Country forum and or Banking forums. EG - I have had similar forms from financial institutions in the IOM. I have told them I live in Thailand but do not have a Thai TIN and there is no requirement for me to have one. Eventually the bank accepted this - plus I gave them my UK NI number so they can tell HMRC if they really need to. That is no problem as HMRC agrees that I am non resident for tax. Ideally they wanted me to have a Thai TIN - which is not that difficult to get and many expats have in order to reclaim tax on interest. Also Thailand are not yet signed up to CRS........... On 01/12/2017 at 9:06 PM, wildpikey said: Yes apparently more than 180 days total you are considered resident whether you have the correct visa or not. Even though we have to jump through hoops to get visas, can't own houses and all the ridiculous checking in to immigration to prove where you are rules, ... Then they try to tax you on your overseas earnings? hmmm.. I wouldn't mind if there was some benefit to it, but all my research has found no positives... If you do not have a Thai TIN then no reason that the Thai authorities would look at you. Plus many Thais have income/assets abroad so that they do not get taxed on it. Simply, at the moment, no need to fret over it. Edited December 9, 2017 by topt Link to comment Share on other sites More sharing options...
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